Precision ADM receives funding boost from private US investors
September 14, 2019
Precision ADM, Inc., Winnipeg, Manitoba, Canada, a global engineering and metal Additive Manufacturing solutions provider, reports that it has received a strategic US private investment from Andy Christensen and Joe Allison. The investment is expected to help further the company’s growth strategy in the medical device and aerospace sectors, including securing additional manufacturing capacity, quality systems, and material selection for serial production.
Andy Christensen is Founder and President of Medical Modeling Inc., which was acquired by 3D Systems in 2014. “It’s a pleasure to be aligned with Precision ADM, their great team and vision for Additive Manufacturing,” he stated. “Additive metals in the orthopaedic, spine and craniomaxillofacial space is in a high growth phase with ample opportunity in serial and patient-matched implants.”
Joe Allison co-founded Solid Concepts in 1991. The company was acquired by Stratasys in 2014, then merged with Harvest Technologies and RedEye to create Stratasys Direct Manufacturing, where Allison most recently served as CEO. “Precision ADM is well-positioned to aggressively expand 3D printing into new medical and aerospace applications,” he stated. “The executive team has the vision, experience and passion to make a material difference in this industry.”
Martin Petrak, Chief Executive Officer of Precision ADM, commented, “I am very grateful to Andy and Joe for their investment and their confidence in Precision ADM as they are both true Additive Manufacturing Pioneers in the medical and aerospace industries over the last twenty-five years. Our customers have already come to expect the highest quality and greatest service from us, and I believe this investment will truly enhance their Additive Manufacturing experience.”